23.07.2025 08:17

Block Inc.'s Square, the payments processing giant, has announced a significant expansion of its Bitcoin payment capabilities. Starting July 22nd, approximately four million merchants within Square's vast network gained the ability to directly accept Bitcoin payments utilizing the Lightning Network.

This rollout, initially launched with a select group of vendors, represents a considerable advancement in Bitcoin adoption for businesses. The eventual accessibility to all four million merchants underscores Square's ambitious commitment to cryptocurrency integration. This initiative reflects the continued dedication of Block co-founder, and former Twitter CEO, Jack Dorsey, to advancing cryptocurrency adoption within the mainstream economy.

Square's integration of the Lightning Network is strategically designed to overcome previous limitations associated with Bitcoin transactions. By leveraging the Lightning Network's speed and lower fees, Square aims to make Bitcoin payments a more attractive and viable option, particularly for small and medium-sized businesses that might otherwise be deterred by higher processing costs and slower settlement times. The reduced transaction fees and faster processing times offered by the Lightning Network are expected to boost Bitcoin's appeal among merchants.

This development, sourced from internet resources, comes courtesy of DeepNewz, an AI-powered news aggregator, and exemplifies Square's ongoing commitment to integrating innovative financial technologies. The potential impact on the broader cryptocurrency landscape is significant, suggesting a potential increase in everyday Bitcoin usage.